This report aims to provide detailed insights into the global Molecular Diagnostics Market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.

Expected Revenue Growth:
The global molecular diagnostics market size is projected to reach USD 31.8 billion by 2026 from USD 17.8 billion in 2021, at a CAGR of 12.3%.
Market growth is driven by the increasing prevalence of infectious diseases and cancer, the rising funding for R&D, the increase in PoC testing devices and technological advancements.

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The reagents & kits segment accounted for the largest share of the molecular diagnostics market, by product & service segment, in 2020
Based on product & service, the molecular diagnostics market is segmented into reagents & kits, instruments, and services & software. In 2020, the reagents & kits segment accounted for the largest share of this market. The frequent purchase of these products due to their recurrent usage drives the market growth of this segment.
Polymerase chain reaction (PCR) segment to register the highest growth rate during the forecast period
Based on technology, the molecular diagnostics market is segmented into polymerase chain reaction (PCR), isothermal nucleic acid amplification technology (INAAT), in situ hybridization (ISH), DNA sequencing and next-generation sequencing (NGS), DNA microarray, and other technologies. In 2020, the polymerase chain reaction (PCR) segment accounted for the highest growth rate. This can be attributed to the growing use of PCR in proteomics and genomics, use of RT-PCR in COVID-19 test, automation of PCR instruments, and the emergence of advanced technologies like qRT-PCR.
The infectious disease diagnostics segment accounted for the largest share of the molecular diagnostics market, by application segment, in 2020
Based on application, the molecular diagnostics market is into infectious disease diagnostics, oncology testing, genetic tests and other applications. In 2020, the infectious disease diagnostics segment accounted for the largest share of this market. Factors such as the increasing prevalence of infectious diseases and outbreak of COVID-19 pandemic drive this segments growth.
The diagnostic laboratories segment accounted for the largest share of the molecular diagnostics market, by end user segment, in 2020
Based on end-users, the molecular diagnostics market is segmented into hospitals and clinics, diagnostic laboratories, and other end users. In 2020, diagnostic laboratories accounted for the largest share of the molecular diagnostics market. Diagnostic laboratories command the major share of the molecular diagnostics market owing to increased test volume of infectious diseases and cancer and strengthening healthcare infrastructure for efficient disease diagnosis and treatment.

North America is the largest regional market for molecular diagnostics market
The molecular diagnostics market is segmented into five regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of the molecular diagnostics market. The large share of this region can be attributed to highly developed healthcare system in the US and Canada, the presence of many leading national clinical laboratories, and the easy accessibility to technologically advanced instruments.

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